A stunning result for the jobless rate, its lowest since December of 2010.

Employment in Australia is now more than 1% above its pre-Covid level. Employment to population ratio has never been higher.

AUD/USD nonplussed:

aud unemployment

June's report was impacted by the Melbourne lockdown.

July's will be hit by the Sydney lockdown.

Melbourne's lockdown was harsher. But Sydney's will be longer. Maybe its a wash?